Point72 Asset Management L.P. Sells 264,120 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Point72 Asset Management L.P. lowered its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 49.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,082 shares of the company's stock after selling 264,120 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.87% of iRhythm Technologies worth $20,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in IRTC. Mackenzie Financial Corp lifted its holdings in shares of iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock worth $153,745,000 after buying an additional 80,091 shares in the last quarter. Braidwell LP increased its holdings in iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company's stock worth $58,097,000 after acquiring an additional 256,200 shares during the period. Eventide Asset Management LLC lifted its stake in iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock worth $54,694,000 after purchasing an additional 464,629 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock valued at $52,501,000 after purchasing an additional 195,246 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in iRhythm Technologies by 9.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company's stock worth $38,603,000 after buying an additional 44,387 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IRTC shares. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $86.00 target price on shares of iRhythm Technologies in a research note on Tuesday. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Friday, September 27th. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price objective on the stock. Citigroup decreased their price objective on iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Finally, Needham & Company LLC cut their target price on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and an average target price of $106.45.

iRhythm Technologies Trading Up 4.6 %

Shares of NASDAQ:IRTC traded up $3.77 during midday trading on Friday, hitting $85.18. 291,023 shares of the stock traded hands, compared to its average volume of 399,352. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business's 50 day moving average is $75.32 and its two-hundred day moving average is $81.35. iRhythm Technologies, Inc. has a one year low of $55.92 and a one year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million during the quarter, compared to analysts' expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.89) EPS. On average, research analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Insider Transactions at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the transaction, the director now owns 18,941 shares of the company's stock, valued at $1,423,605.56. This represents a 54.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick Michael Murphy sold 2,492 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, the insider now owns 35,327 shares in the company, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.